AceShowbiz - Lil Wayne is facing a major court battle with his former booking agents after accusing them of holding back his tour profits - they have resolved to "aggressively defend" themselves against the star's "utterly false claims".

The "Lollipop" hitmaker and his company Young Money Touring Inc. allege the owners of Ujaama Talent Agency Inc., Erskine Isaac and David Nelson, owe him money from two of his America's Most Wanted Music Festivals in 2009. The complaint accuses Isaac and Nelson of withholding at least $375,000 in profits from the dates.

But now Isaac has spoken out against the allegations, telling AllHipHop.com in a statement, "The claims in his lawsuit are without merit and we will aggressively defend ourselves and our reputation against the utterly false claims. We anxiously await our day in court, where we will present our case in full. Beyond that, we cannot discuss this matter, since it's in litigation and being handled by our attorneys."

Lil Wayne is currently serving time at New York's Rikers Island jail on weapons possession charges and is due for release later this year.